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(Alliance News) - ITV PLC on Tuesday said it has invested in Pitpatpet Ltd, a pet health and wellness company.
The London-based television broadcaster and content producer has subscribed for GBP3 million of shares in PitPat, as part of ITV Adventures Invest, its Media for Equity investment fund.
ITV has the option to subscribe for a further GBP1 million of shares, in return for advertising inventory across ITV's channels and ITVX.
"PitPat is a truly innovative, customer-centric brand bringing the insights of data, monitoring and tracking to help pet owners and I'm thrilled that the company is becoming part of ITV's Media for Equity investment portfolio. PitPat is at an important inflection point in its scaling journey, having created a market-leading product for both dog activity monitors and GPS trackers," said Sheena Amin, director of ITV AdVentures.
"We know that ITV viewers index highly as pet owners, and I'm confident that we can help drive category awareness for pet GPS trackers and put PitPat on the map at the same time."
ITV shares were trading 0.3% higher at 74.74 pence each in London on Tuesday morning.
By Holly Beveridge, Alliance News reporter
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